IOTAUSD Price Analysis – June 30
The pair continues its ranging trend into the last day of the month June 30, as it trends to the upside and downside zone of the market with increased volatility, but the area of interest is the upper zone.
Supply Level: $0.22994512, $0.33403757, $0.37139441
Demand Level: $0.57676740, $0.49565369, $0.45113820
IOTAUSD Long term Trend: Ranging
With the IOTAUSD pair riding into its range to both sides of the divide, the RSI signals consolidation, and leaving the technical side in a tug of war around its demand and supply levels.
The pattern watch analysis is yet to give a clear signal path but IOTA is yet to reach its full upside target around the upper zone on the level at $0.57676 as it stays fixed below its key technical demand zone on the level at $0.45113.
IOTAUSD Short term Trend: Bearish
The two systemic indicators on the 4-hour time frame are bearish, while the RSI is almost at the oversold zone, the moving average crossing to the south side lends credence to short term bias to the downside zone.
On the break of minor support towards the level at $0.37139, it will signal resumption of a fall to the technical supply zone on the level at $0.33403 where a rebound to the upside may be activated.
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